Tired of winning storage units at auction only to discover they contain nothing more than old electronics, worn-down boxes and other items of little-to-no value? There’s no guarantee that each and every unit will be profitable. If there was, you would probably see more people entering this business. However, what you “think” is junk might actually be worth something, so use caution when throwing away items acquired through storage auctions.
It’s not uncommon for auction hunters to come across broken appliances, car parts, tools and other metal objects in this business. Even if they no longer function as intended, though, you can always take them to a local recycling facility for cash. According to ScrapRegister.com, a pound of aluminum is currently worth $0.914; a pound of steel is worth $1.117; and a pound of copper is worth $2.915. Assuming you acquired a hefty amount of scrap metal from a storage auction, you can turn a pretty penny just by recycling it. And you’ll get a warm and fuzzy feeling inside knowing that you helped to clean up the Earth by recycling materials that would otherwise be tossed in a landfill.
Of course, many storage auction hunters — especially newcomers — overlook the value of collectables. You may find a box of trading cards or kids toys, assuming it’s worthless, so you toss them in the trash. Granted, many old collectables such as this are in fact worthless, but others can fetch a high-dollar figure. The only way you’ll know whether or not a collectable is worth something is by researching it. We’ve talked about this before on our blog here at StorageAuctionList.com, but the easiest way to research the price of a particular collectable is searching for it on eBay. You don’t have to necessarily sell your’s here, but instead use the auction site to determine how much people are willing to pay for it.
Pay close attention to items of historical relevance, as they may be worth something. When you come across a pile of old newspapers or magazines, for instance, check the dates to see how old they are. If they are 30 or 40 years old, they may hold value. Collectors of historical memorabilia will often pay top dollar for pieces such as this.